In 2008, CDZ Corporation had total earnings of $500 million and CDZ retained 30 percent of its earnings for future investments. If the price of a share of CDZ stock is $70 and if 80 million shares of its stock were outstanding, then what is the price-earnings ratio?
A) 0.14
B) 11.2
C) 16.0
D) 37.3
Correct Answer:
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